Brazil: Consumer confidence falls to record low level in January
January 26, 2015
In January, the consumer confidence index published by the Getulio Vargas Foundation (FGV, Fundaçao Getulio Vargas) fell a seasonally-adjusted 6.7% over the previous month, which contrasted the 0.9% increase recorded in December. The index fell from the 96.2 points tallied in December to a record low level of 89.8 points in January. The deterioration was broad-based. In January, consumers were less optimistic about the current economic situation and their prospects regarding future economic situation were worse compared to the previous month.
The FGV confidence index spans a range from 1 to 200 points, where 100 points is considered neutral. As a result of the monthly drop, consumer confidence lies further below in pessimistic territory. The index has followed a broadly-based downward trend from mid-2012 until the present.